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Erik Travers And Jamie Walters Acquire Spring Mill Country Club In Ivyland For $9 Million
SOLD
$9,000,000
Pennsylvania
See Similar DealsCommercial
Sold 03/20/2025
SOLD
Erik Travers And Jamie Walters Acquire Spring Mill Country Club In Ivyland For $9 Million
80 Jacksonville Road
See Similar DealsCommercial
Sold 03/20/2025
Summary
PENNSYLVANIA
Asset Type:Commercial
Transaction Type:Sale
The transaction involves a commercial property located at 80 Jacksonville Road in Ivyland, PA. The asset type is a country club, specifically the Spring Mill Country Club. The property was sold for $9,000,000.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $9,000,000
- Buyer: Erik Travers & Jamie Walters
- Seller: Peter DePaul - DePaul Group
Erik Travers and Jamie Walters, who both have backgrounds in hospitality, are the new owners of the Spring Mill Country Club, which has been in operation since 1986. Their plans include upgrades to the dining and lounge areas while preserving the existing par-72 golf course, ensuring the continuity of the club for its 400 members.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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